General Sentiment

Asian shares tumbled, having their worst week since March 2020. As Asia pacific markets digest the ongoing new regulatory reforms led by China and economic figures from Japan. Japan’s Nikkei fell 1.61%.

And in the U.S. Markets were digesting disappointing Unemployment claims that also fell short of expectations with a figure of 400K VS 382K expected. These figures bring up cloudy thoughts on what would be the Fed’s next move.

Equities

On Wallstreet, All 3 Major indices ended higher overnight, on the back of better than expected earnings and growth forecasts. Despite having the U.S. GDP falling short of expectations, markets took it quite well showing signs of recovery.

Meanwhile, Robinhood Markets (Nasdaq: HOOD) shares fell 8.4% below its IPO. Shares of Ford gained 3.8% on better growth forecasts while Facebook remained falling.

Currency Market;

The U.S. dollar continued to slide near one-month lows overnight but reversed momentum this morning, rising 0.11% to 91.97.

The Sterling toned down from its 1 month-highs supported by a falling USD and inched down this morning 0.09% to 1.394.

The USD/CNY gained slightly 0.06% despite all the turmoil happening in China holding steady at 6.46.

Commodities: Gold

Gold was up overnight and remained near a 2 week high but edged down this morning 0.12% to $1,829.

Commodities: Oil

Oil fell slightly this morning, although it had a good week on fuel demand optimism. Brent crude was down to $74.52 while WTI steadied at $73.